Building a new home doesn’t have to play out like a dramatic sitcom when one thing after another gets thrown at you. With proper planning, budgeting and a contingency fund in place you can handle any additional expenses that may pop up and also help your builder come in on budget.
Talk to your builder
Hidden costs are exactly that…hidden! They go unnoticed until after you have signed your contracts usually.
Make sure to know exactly whats in your quote to avoid any nasty surprises. Put a list together of what you believe is included in your quote and have a sit down with your builder to go through together ensuring you are on the same page. This way if there are any extra costs, you can make the decision before the build commences.
Things to check for:
- Demolition costs
- Current property information – including soil tests
- Excavation costs and drainage
- Floor finishes
- Air conditioning units
- Kitchen fittings
- Painting
- Driveways, landscaping and fencing
How you can keep costs down
Simplifying. A lot of people get carried away when building their dream home, and understandably so!
However, take a step back and ask yourself if you really need all the expensive extras? Be careful with your selections. Most of these occur post contract and can result in cost rises if you don’t stick to your budget.
In saying that though, it does not mean to skimp and only select the cheapest materials. Doing that most likely results in you having to replace/repair sooner than if you selected the slightly dearer but better quality products. This applies to choosing your builder as well. The reality is that you get what you pay for. Skilled and experienced tradespeople are going to be more expensive. You will pay for quality, but you can also be confident that the finished product will be of the highest standard.
Do your own homework on the builder and their previous work. This is the best way to decide if they are your best option to build your dream home.
